Housing Services:
Housing Development Loans & Programs

PDC may provide direct assistance in the form of low-interest, favorable-term loans for various development phases to nonprofit and for-profit affordable housing developers; typically, multi-family. The products listed below are subject to resource availability, and are usually advertised in the form of Notices of Funding Availability (NOFA) or Requests for Proposals in specific Urban Renewal Areas (URAs). 

See the bids page for open bid opportunities, or contact Housing Policy, Planning and Development staff for more information about resource availability for these programs.

Bond Allocation

City Lights Bond Program
Purpose is to stimulate production of new housing units that are not currently being built due to market financial constraints.

Private Activity Bond Program
To assist in the financing of mult-family projects that provide public benefits within the Portland city limits.

501(C)(3) Bond Program
To assist in the financing of development projects that provide public benefits within the Portland city limits.

Direct Financial Assistance

Equity Gap Contributions/Cash Flow Share Note
Provides public funding for rental or Mixed-Use projects that provide public benefits and are owned by For Profit or Eligible Non-Profit Organizations.

For-Sale Housing Development Loans
Provides financing to developers of housing, Mixed-Use Projects and Non-Profit Facilities to cover costs of project feasibility work, site control, or acquisition of properties prior to securing financing to complete the project.

Housing Development Subordinate Loan
Provides public financing to fund development costs for new or existing rental and Mixed-Use Projects that provide public benefits.

Non-Profit Predevelopment Loans
Designed to fund technical and professional services necessary to explore project feasibility of housing serving Low or Moderate Income Households, or Mixed-Use or Mixed Income housing developments which include housing units meeting the affordability requirements.

Portland Regional Lead Hazard Control Program
Provides financial assistance to identify, control and reduce lead-based paint hazards.

Tax Increment Funding (TIF) Set Aside for Affordable Housing
Dedicated percentage of Tax Increment Financing (TIF) revenues from all Urban Renewal Districts citywide to affordable housing.

Fee Waivers, Exemptions and Credit Guidelines

Development Fee Waivers
For Non-Profit Affordable Housing projects in the City of Portland, offsets some of the development fees associated with the rehabilitation or new construction of affordable housing units.

System Development Charge Exemption/Fee Waivers
Intended to reduce the development costs for residential units that are made affordable to homeowners and low-income renter households by exempting developers from paying SDC fees levied by the City of Portland.

Tax Abatement Programs

Limited Tax Abatement for Single Family Owner-Occupied Rehabilitation
10-year limited tax property abatement on any increase in assessment value that results from the rehabilitation improvements made to qualifying owner occupied single family homes.

New Multiple-unit Housing (NMUH)/Central City Property Tax Abatement Guidelines
Current moratorium (applications cannot be accepted at this time with the exception of low-income housing projects).

Rental Rehabilitation Tax Abatement Program Guidelines
10-year limited tax property abatement on any increase in assessment value that results from the rehabilitation of, or conversion to, qualifying rental units.

Single Family New Construction Tax Abatement Guidelines
Changes to the Limited Tax Abatement (LTA) Program in effect January 1, 2008.

Transit Oriented Development Property Tax Abatement Guidelines
Supports high density housing and Mixed-Use developments affordable to a broad range of the general public on vacant or underutilized sites along transit corridors whose design and features encourage building occupants to use public transit.

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